Financial Advisor
Green Bancorp, Inc.
M&A Advisory
Has Sold A Branch To
Transaction Details
- On December 21, 2018, Keystone Bank, N.A. and Green Bank, N.A, the wholly owned subsidiary of Green Bancorp, Inc. (NASDAQ: GNBC), announced that the banks have entered into a purchase and assumption agreement pursuant to which Keystone Bank will acquire certain assets and deposits associated with Green Bank’s Austin, Texas branch
- Terms of the transaction were not disclosed
- Expected closing: 1Q’19
- Stephens Inc. served as the exclusive financial advisor to Green Bancorp, Inc.
- Stephens Inc. previously served as the exclusive financial advisor to Veritex Holdings, Inc. (NASDAQ: VBTX) on its pending acquisition of Green Bancorp, Inc., which is expected to close on or about January 1, 2019
About the company
Green Bancorp, Inc.
Headquartered in Houston, Texas, Green Bancorp is a bank holding company that operates Green Bank predominantly in the Houston and Dallas metropolitan areas and Austin market. Commercial-focused, Green Bank is a nationally chartered bank regulated by the Office of the Comptroller of the Currency, a division of the Department of the Treasury of the United States. Green Bancorp expects to merge with and into Veritex Holdings, Inc. (“Veritex”) on or about January 1, 2019.
Keystone Bank
Keystone Bank launched in 2018 with a maverick and entrepreneurial approach to community banking that truly puts the client first. Based in the Austin suburb of Bee Cave, it will initially focus on serving clients in western Travis County and the Hill Country. Its services include private banking, commercial real estate, residential real estate and small business loans. Keystone aims to be the financial keystone for our customers by being great listeners and even better problem solvers.
Sources: Company press releases and S&P Global Market Intelligence.
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